The stock of Equinox Gold Corp (AMEX: EQX) has increased by 2.80 when compared to last closing price of 4.64.Despite this, the company has seen a gain of 3.92% in its stock price over the last five trading days. Seeking Alpha reported 2023-11-05 that Equinox Gold reported record gold sales and revenue in Q3 2023, with 148,231 ounces of gold sold at a realized price of $1,917 per ounce. The completion of the Greenstone Project, scheduled for H1 2024, is expected to contribute to an annual production of 400,000 ounces of gold. Equinox Gold’s stock has outperformed the VanEck Gold Miners ETF, with a 65.5% increase over the past year.
Is It Worth Investing in Equinox Gold Corp (AMEX: EQX) Right Now?
Equinox Gold Corp (AMEX: EQX) has a higher price-to-earnings ratio of 34.27x compared to its average ratio,, and the 36-month beta value for EQX is at 1.01. Analysts have varying views on the stock, with 3 analysts rating it as a “buy,” 0 rating it as “overweight,” 6 as “hold,” and 0 as “sell.”
The average price suggested by analysts for EQX is $6.03, which is $1.26 above the current market price. The public float for EQX is 285.74M, and currently, shorts hold a 5.24% of that float. The average trading volume for EQX on November 17, 2023 was 2.18M shares.
EQX’s Market Performance
EQX’s stock has seen a 3.92% increase for the week, with a 5.30% rise in the past month and a 4.84% gain in the past quarter. The volatility ratio for the week is 3.01%, and the volatility levels for the past 30 days are at 4.23% for Equinox Gold Corp The simple moving average for the past 20 days is 3.57% for EQX’s stock, with a 2.01% simple moving average for the past 200 days.
EQX Trading at 5.86% from the 50-Day Moving Average
After a stumble in the market that brought EQX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -18.39% of loss for the given period.
Volatility was left at 4.23%, however, over the last 30 days, the volatility rate increased by 3.01%, as shares surge +3.70% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.02% upper at present.
During the last 5 trading sessions, EQX rose by +3.92%, which changed the moving average for the period of 200-days by +0.63% in comparison to the 20-day moving average, which settled at $4.61. In addition, Equinox Gold Corp saw 45.43% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for EQX
Current profitability levels for the company are sitting at:
- +1.09 for the present operating margin
- +6.81 for the gross margin
The net margin for Equinox Gold Corp stands at -11.13. The total capital return value is set at 0.32, while invested capital returns managed to touch -3.33. Equity return is now at value 2.03, with 1.19 for asset returns.
Based on Equinox Gold Corp (EQX), the company’s capital structure generated 36.70 points at debt to equity in total, while total debt to capital is 26.85. Total debt to assets is 22.39, with long-term debt to equity ratio resting at 35.79. Finally, the long-term debt to capital ratio is 26.18.
When we switch over and look at the enterprise to sales, we see a ratio of 2.01, with the company’s debt to enterprise value settled at 0.53. The receivables turnover for the company is 14.88 and the total asset turnover is 0.24. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.41.
In conclusion, Equinox Gold Corp (EQX) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.